Javier Milei, a pro-Bitcoin leader, has assumed the presidency of Argentina amid a severe economic crisis. In his inaugural address, he outlined the dire economic situation and the need for immediate action, including significant austerity measures. Milei has been critical of Argentina's central bank and has previously suggested radical changes such as abolishing the Central Bank and adopting the U.S. dollar. His election has positively impacted the cryptocurrency market and Argentine ADRs trading in the U.S. He appointed former Central Bank president Luis Caputo as his economy minister.